Should Greece leave the Euro?

[hippifried]

Well that's all pretty meaningless since the fractional reserve banking system precludes anything other than an arbitrary valuation of all currency.

Huh? Who told you that? Somebody trying to sell you FOREX?

Fractional reserve banking has been around for how many centuries? Our own central bank will turn 100 next year. What? We were using some other system from 1946 to 1971? All the world's curencies were pegged. 25 years of stable worldwide growth. Not one bank panic. There was nothing arbitrary about the valuation of currencies. Arbitrary is the problem. Actually, I don't think "arbitrary" is an accurate term here. It makes things sound like this all happens by itself. Every currency on the planet is in decline, & it's all artificial. Somehow, that doesn't strike me as random. I just can't buy into this meme that all fucked up is the natural order of things, or worse, that it should be.

[LibertyHarkness]

i think the UK should leave the euro and stand on its own two feet again .. instead of propping up these fuckers . and wasting our resources .

[Prospero]

Liberty - Have you been reading the Daily Mail and Express again? Strewth.

[LibertyHarkness]

no i havnt , i think its disgusting we was once a glorious empire and now are reduced a mere shadow of our former selves .. king george would turn in his grave ..

Its insane the amount of control we have allowed europe to have over us as a nation .. what i wouldnt give to take control of this Island and push on

[jimbo1974]

On the bright side, if the drachma returns kebabs will be ridiculously cheap ! Yay !

[jimbo1974]

oops, Kebabs come from Turkey. hehehe

[BallBuster]

Greece is like a teenager who thinks is an adult and independant. It does not want anybody to tell them what to do, but it does NOT have the means to support itself. I would let them choose to stay or get out. If they choose to get out, no more allowance (loans) from daddy (EU). In my opinion they would be in financial ruin, much worse than they are now.

[Stavros]

i think the UK should leave the euro and stand on its own two feet again .. instead of propping up these fuckers . and wasting our resources .

A) the currency of the UK is Sterling, not the Euro; but the UK is in the European Union;

B) Churchill was an early advocate of a 'United States of Europe' -
"I wish to speak to you today about the tragedy of Europe. (...) Yet all the while there is a remedy which, if it were generally and spontaneously adopted by the great majority of people in many lands, would as if by a miracle transform the whole scene, and would in a few years make all Europe, or the greater part of it, as free and as happy as Switzerland is today. What is this sovereign remedy? It is to recreate the European Family, or as much of it as we can, and to provide it with a structure under which it can dwell in peace, in safety and in freedom. We must build a kind of United States of Europe. (...) The first step in the recreation of the European Family must be a partnership between France and Germany."

Winston Churchill
Speech at Zurich University
19th September 1946


C) The EU is the largest single market in the world, and one from which the UK benefits.

[flabbybody]

hey Starvos. Why is the stock market rallying going into the election Sunday?
Should we root for the radical guy who wants to renegotiate the give backs?
I'm beginning to think if they flip the EU the proverbial bird and get on with the default it may be what the markets want to see.

[Stavros]

There is speculation that the elections will produce a hung parliament with Syriza on the left and the New Democracy Party on the right forming a government of national unity whose priority will be to stay in the Euro and fight (Syriza) or amend (New Democracy) 'austerity measures'. Opinion poll results cannot be published by law two weeks before an election -but some think its just hysteria in the markets. There must be some behind the scenes chatter as well, perhaps someone has been told that the Germans will not allow Greece to leave the Euro, I don't know. It may mean that the nightmare scenario, Greek leaving the Euro, re-establishing the Drachma, has subsided, but its not as if that solves Greece's financial problems, and it won't have much effect on its rising unemployment and the standard of living. If the elections show one thing, it may be that the extreme parties will lose votes as people bite the bullet and vote for parties that can actually govern -the violent outburst on tv by the Golden Dawn MP was an example of how crazy some of the fringe parties are, I don't think most Greeks want to be associated with that.